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Trending ETFs

Name

As of 03/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.51

$556 M

6.06%

$0.57

0.55%

Vitals

YTD Return

0.1%

1 yr return

3.3%

3 Yr Avg Return

-2.1%

5 Yr Avg Return

1.0%

Net Assets

$556 M

Holdings in Top 10

50.7%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 434.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.51

$556 M

6.06%

$0.57

0.55%

MPLRX - Profile

Distributions

  • YTD Total Return 0.1%
  • 3 Yr Annualized Total Return -2.1%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.32%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Core Plus Fixed Income Portfolio
  • Fund Family Name
    Morgan Stanley Funds
  • Inception Date
    Jun 11, 2018
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Neil Stone

Fund Description

Under normal circumstances, at least 80% of the Fund’s assets will be invested in fixed-income securities. This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ notice in writing of any changes. The Fund invests primarily in a diversified mix of U.S. dollar-denominated investment grade fixed-income securities, including U.S. government, corporate, municipal, mortgage- and asset-backed securities. The Fund will ordinarily seek to maintain an average weighted maturity between five and ten years.
The Adviser employs a value approach toward fixed-income investing and evaluates the relative attractiveness among corporate, mortgage and U.S. government securities, and also may invest in non-dollar-denominated issues. The Adviser relies upon value measures to guide its decisions regarding sector, security and country selection, such as the relative attractiveness of the extra yield offered by securities other than those issued by the U.S. Treasury. The Adviser also measures various types of risk by monitoring interest rates, inflation, the shape of the yield curve, credit risk, prepayment risk, country risk and currency valuations. The Fund may engage in frequent trading to achieve its investment objective.
The Fund’s investment process incorporates information about environmental, social and governance issues (also referred to as ESG) via an integrated approach within the investment team’s fundamental investment analysis framework. The Adviser may engage with management of certain issuers regarding corporate governance practices as well as what the Adviser deems to be materially important environmental and/or social issues facing a company.
The Fund may invest opportunistically in fixed-income securities that are rated below “investment grade” or are not rated, but are of equivalent quality. These fixed-income securities are often referred to as “high yield securities” or “junk bonds.” High yield securities are fixed-income securities rated by one or more rating agencies below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), below BBB- by S&P Global Ratings Group, a division of S&P Global Inc. (“S&P”), below BBB- by Fitch Ratings, Inc. (“Fitch”) or, if unrated, considered by the Adviser to be of equivalent quality.  The Fund may also invest in loan-related investments, such as public
bank loans made by banks or other financial institutions and loan participations and assignments, which may be rated investment grade or below investment grade. In addition, the Fund may invest in convertible securities.
The Fund’s mortgage securities may include collateralized mortgage obligations (“CMOs”), commercial mortgage-backed securities (“CMBS”), stripped mortgage-backed securities (“SMBS”) and inverse floating rate obligations (“inverse floaters”). In addition, the Fund may invest in to-be-announced pass-through mortgage securities, which settle on a delayed delivery basis (“TBAs”). The Fund may also invest in securities of foreign issuers, including issuers located in emerging market or developing countries. The securities in which the Fund may invest may be denominated in U.S. dollars or in currencies other than U.S. dollars. The Fund may also invest in restricted and illiquid securities.
The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Fund’s use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
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MPLRX - Performance

Return Ranking - Trailing

Period MPLRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -5.6% 4.8% 11.22%
1 Yr 3.3% -9.2% 18.2% 13.54%
3 Yr -2.1%* -10.5% 26.1% 20.83%
5 Yr 1.0%* -6.6% 191.6% 22.30%
10 Yr N/A* -2.3% 73.8% 4.48%

* Annualized

Return Ranking - Calendar

Period MPLRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -16.2% 8.1% 52.86%
2022 -17.4% -34.7% 131.9% 81.27%
2021 -3.0% -11.6% 4.4% 36.24%
2020 2.5% -10.1% 946.1% 74.92%
2019 6.6% -1.7% 156.4% 16.42%

Total Return Ranking - Trailing

Period MPLRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -5.6% 4.8% 11.22%
1 Yr 3.3% -9.2% 18.2% 13.54%
3 Yr -2.1%* -10.5% 26.1% 20.83%
5 Yr 1.0%* -6.6% 191.6% 22.30%
10 Yr N/A* -2.3% 73.8% 4.49%

* Annualized

Total Return Ranking - Calendar

Period MPLRX Return Category Return Low Category Return High Rank in Category (%)
2023 7.4% -11.3% 11.0% 10.95%
2022 -14.6% -32.2% 131.9% 79.05%
2021 -0.4% -9.4% 9.2% 30.25%
2020 7.9% -1.9% 1009.0% 59.72%
2019 10.7% 1.1% 21668.0% 8.27%

NAV & Total Return History


MPLRX - Holdings

Concentration Analysis

MPLRX Category Low Category High MPLRX % Rank
Net Assets 556 M 2.73 M 292 B 62.88%
Number of Holdings 557 1 17889 56.38%
Net Assets in Top 10 262 M -106 M 36.5 B 53.07%
Weighting of Top 10 50.71% 4.4% 134.5% 10.48%

Top 10 Holdings

  1. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 10.93%
  2. Uniform Mortgage-Backed Security, TBA 10.32%
  3. United States Treasury Note/Bond 5.37%
  4. United States Treasury Note/Bond 5.34%
  5. United States Treasury Bill- When Issued 4.43%
  6. Uniform Mortgage-Backed Security, TBA 4.39%
  7. United States Treasury Bill - WI Post Auction 4.03%
  8. Uniform Mortgage-Backed Security, TBA 3.53%
  9. Uniform Mortgage-Backed Security, TBA 1.35%
  10. United States Treasury Note/Bond 1.03%

Asset Allocation

Weighting Return Low Return High MPLRX % Rank
Bonds
85.07% 0.00% 215.98% 82.90%
Cash
19.73% -54.51% 88.26% 2.63%
Other
14.18% -13.23% 58.65% 16.85%
Convertible Bonds
2.75% 0.00% 7.93% 12.35%
Stocks
0.00% 0.00% 99.93% 82.22%
Preferred Stocks
0.00% 0.00% 74.68% 80.72%

Bond Sector Breakdown

Weighting Return Low Return High MPLRX % Rank
Securitized
42.21% 0.00% 98.40% 20.69%
Corporate
26.78% 0.00% 100.00% 61.57%
Government
23.46% 0.00% 86.23% 52.94%
Cash & Equivalents
19.73% 0.00% 88.06% 4.38%
Derivative
1.11% -5.38% 58.65% 9.93%
Municipal
0.54% 0.00% 100.00% 44.12%

Bond Geographic Breakdown

Weighting Return Low Return High MPLRX % Rank
US
84.97% 0.00% 215.98% 77.80%
Non US
0.10% 0.00% 39.04% 37.39%

MPLRX - Expenses

Operational Fees

MPLRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.01% 39.10% 67.22%
Management Fee 0.38% 0.00% 1.76% 52.80%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.50% 47.45%

Sales Fees

MPLRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MPLRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MPLRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 434.00% 2.00% 493.39% 91.07%

MPLRX - Distributions

Dividend Yield Analysis

MPLRX Category Low Category High MPLRX % Rank
Dividend Yield 6.06% 0.00% 9.77% 4.28%

Dividend Distribution Analysis

MPLRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MPLRX Category Low Category High MPLRX % Rank
Net Income Ratio 2.32% -1.28% 4.79% 15.56%

Capital Gain Distribution Analysis

MPLRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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MPLRX - Fund Manager Analysis

Managers

Neil Stone


Start Date

Tenure

Tenure Rank

Jan 31, 2011

11.34

11.3%

Neil is a member of the Fixed Income team. He joined Morgan Stanley Investment Management in 1995 and has been with financial industry since 1985. Previously, he served as a vice president in mortgage research at Morgan Stanley. Prior to joining the firm, Neil was a director of fixed income research at Credit Suisse First Boston. He received a B.S. in accounting and decision sciences and an M.B.A. in social systems sciences from the Wharton School of the University of Pennsylvania.

Joseph Mehlman


Start Date

Tenure

Tenure Rank

Apr 30, 2013

9.09

9.1%

Joe is a member of the Global Fixed Income team and is the head of U.S. Credit. He joined Morgan Stanley in 2002 and has 14 years of investment experience. Joe received a B.A. with honours in economics from Trinity College. Joe holds the Chartered Financial Analyst designation and is a member of the New York Society of Security Analysts.

Matthew Dunning


Start Date

Tenure

Tenure Rank

Oct 03, 2014

7.66

7.7%

Matt is a portfolio manager on the Global Fixed Income team. He re-joined Morgan Stanley in 2014 and has been with financial industry since 1994. Prior to re-joining the firm, Matt managed the Municipal Valuation Rates group and was a senior taxable municipal bond analyst for the BVAL group at Bloomberg. Previously, he worked for the Customized Fixed Income group at MSIM (formerly Miller, Anderson & Sherred) in trading and portfolio management roles. Matt received a B.A. in business management and business administration from Lycoming College and an M.B.A. in financial institutions management from St. Joseph's University.

Gregory Finck


Start Date

Tenure

Tenure Rank

May 27, 2015

7.02

7.0%

Greg is a portfolio manager and head of the Securitized team. He joined Morgan Stanley in December 2014 and has been with financial industry since 1992. Previously, he was a managing director and portfolio manager of mortgage-backed securities portfolios for various Fortress funds at Fortress Investment Group. Prior to that, Greg was a managing director at Goldman, Sachs & Co. where he ran the residential mortgage trading business. Greg received a B.S.E in civil engineering from Princeton University.

James Caron


Start Date

Tenure

Tenure Rank

May 27, 2015

7.02

7.0%

Jim is a portfolio manager and senior member of the MSIM Global Fixed Income team and a member of the Asset Allocation Committee focusing on macro strategies. He joined Morgan Stanley in 2006 and has been with financial industry since 1992. Prior to this role, Jim held the position of global head of interest rates, foreign exchange and emerging markets strategy with Morgan Stanley Research. He authored two interest rate publications, the monthly Global Perspectives and the weekly Interest Rate Strategist. Previously, he was a director at Merrill Lynch where he headed the U.S. interest rate strategy group. Prior to that, Jim held various trading positions. He headed the U.S. options trading desk at Sanwa Bank, was a proprietary trader at Tokai Securities and traded U.S. Treasuries at JP Morgan. Jim received a B.A. in physics from Bowdoin College, a B.S. in aeronautical engineering from the California Institute of Technology and an M.B.A in finance from New York University, Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.83 1.16